25 Stevenson St · Buffalo, NY 14220

$279,900

6 bd · 2.0 ba · 2,685 sqft · MultiFamily public records · 5 Days on market

Built 1926 3,605 sqft lot Est $258k · 9% over

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +20.5/30.0
• DSCR +6.5/10.0
• 1% rule +5.4/10.0
• Rent growth +4.4/5.0
• Livability +3.9/5.0
• ARV discount +3.6/15.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Looking to buy investment properties or own / occupy investment property take a look at this solid 2 family home close to Churches, Schools, Restaurants and downtown Buffalo. Separate gas & electric utilities. Seller has other properties he is selling all in the South Buffalo area. Due to the units being tenant occupied, showings will be scheduled only on Saturday, July 23rd and Saturday July 30th between 10 am & 1 pm. Showings to be schedule thru Showing Time. Any offers will be reviewed on Tuesday August 2nd after 12 Noon.

Key facts

• Large dry basement
• Private balcony
• Full walk up attic

Tags

• PRIVATE BALCONY
• FULL WALK UP ATTIC
• LARGE DRY BASEMENT
• ABUNDANT STORAGE
• NUMEROUS UPDATES

Property features AI

Finance

• Other: Two separate gas meters; Two separate electric meters; Two total units in the building
• Financial info: Owner pays trash collection and water (multi-unit); Operating expenses include trash and water/sewer

Exterior

• Parking: Paved parking with two or more spaces
• Utilities: Public water connected; Sewer connected; Circuit breaker electric
• Home design: 2 stories; Existing construction
• Construction: Brick and frame construction; Asphalt roof; Built (existing)
• Exterior features: Balcony; Rectangular residential lot; City street frontage

Interior

• Kitchen: Gas water heater
• Bedrooms: 2 units (multi-unit property)
• Flooring: Hardwood; Tile; Varies
• Bathrooms: 2 full bathrooms (total)
• Heating & cooling: Gas forced-air heating
• Interior features: Full basement; Hardwood and tile flooring (varies)
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $280k.

Deal economics

• At list price, monthly cash flow is $370 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $280k).

Location & tenants

• Location reads 77/100 on livability (#195 in NY, #3,011 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: crime F, employment D-.
• Buffalo City School District (urban): math 41% / reading 40% proficiency, ranked #535 of 590 in NY (top 91%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+7.6%/yr); 136 active listings in the ZIP; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $2,917/mo this rent would consume 49% of the median local household income ($71k/yr) (locally 602% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 7.6% rent growth), your $78k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $180k; list at $280k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $279,900

Questions for the listing agent

1. Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.04% ✓
• Cap rate: 7.88%
• Cash-on-cash: 5.67%
• DSCR: 1.25
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $257,760
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
54 Remoleno St	0.32mi	5/2.0 (-1)	2,796 (+4%)	2mo	$300,000	$107	71
85 Geary St	0.49mi	6/2.0	2,780 (+4%)	2mo	$267,500	$96	69
16 Lorraine Ave	0.57mi	6/2.0	2,688 (+0%)	6mo	$240,000	$89	69
18 Sage Ave	0.50mi	6/2.0	2,578 (-4%)	4mo	$164,500	$64	66
74 Houston St	0.53mi	5/3.0 (-1)	2,712 (+1%)	3mo	$148,000	$55	62
276 Choate Ave	0.66mi	6/2.0	2,608 (-3%)	4mo	$195,000	$75	61
75 Juniata Pl	0.64mi	6/2.0	2,544 (-5%)	2mo	$245,000	$96	60
97 Red Jacket Pkwy	0.73mi	6/2.0	2,588 (-4%)	1mo	$220,000	$85	59
26 Kamper Ave	0.53mi	6/2.0	2,394 (-11%)	3mo	$179,000	$75	55
30 Macamley St	0.49mi	6/2.0	2,392 (-11%)	5mo	$284,000	$119	54
389 Cumberland Ave	0.42mi	5/2.0 (-1)	2,328 (-13%)	5mo	$280,000	$120	49
110 Armin Pl	0.63mi	5/2.0 (-1)	2,366 (-12%)	1mo	$235,000	$99	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 7.62% rent growth · sell at horizon

5-year hold

• IRR: -2.4%
• Equity multiple: 0.90×
• Total profit: $-7,549
• Equity at exit: $41,734

10-year hold

• IRR: 11.8%
• Equity multiple: 2.12×
• Total profit: $88,031
• Equity at exit: $24,201

Cash invested: $78,372 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 15 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City: — inherits STATE

NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.

Methodology + full state rankings →

ZIP-level market 14220

• Home prices YoY: -26.7%
• Rents YoY: 7.6%
• Active inventory: 136
• Price-to-rent: 16.0×

Monthly cashflow live

• Estimated rent: $2,917 high
• Mortgage (P&I): −$1,468
• Tax est. 1.5%: −$350 /mo · $4,198/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$613
• Net cashflow: $370

Break-even live

Break-even rent $2,449

Max offer price $279,900

Occupancy floor 82%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,916
Total (2 units)			$2,917

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $69,975
• Closing costs: $8,397
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-10
   status $279,900 Pending 5 DOM
2. 2026-06-09
   days on market $279,900 Active 5 DOM
3. 2026-06-08
   days on market $279,900 Active 4 DOM
4. 2026-06-07
   remarks 694-char remark
5. 2026-06-07
   listed $279,900 Active 3 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,004
• − Mortgage interest: −$15,679
• − Property taxes: −$4,198
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,800
• − Management: −$2,800
• − Depreciation: −$8,143
• Taxable loss: −$16
• Est. tax savings @ 24.0%: +$4
• After-tax cash flow: $4,445/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Buffalo City School District
• NCES district ID: 3605850
• Math proficiency: 41% ▲ 11.00%
• Reading proficiency: 40% ▲ 7.00%
• Median HH income: $31,665
• Composite: 33.17/100
• National rank: #5544
• State rank: #535 of 590 in NY

Livability — Buffalo

• Score: 77/100
• State rank: #195
• US rank: #3011

Category grades

Amenities A Commute A+ Cost of living A Crime F Employment D- Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Buffalo, NY
• County: Erie County · 714,559 people
• City population: 440,021
• Metro: Buffalo-Cheektowaga, NY
• Population (ZIP): 24,428
• Household income: $70,963
• Rent vs Own: 29.3% rent · 70.7% own
• Severe rent burden: 602.0

Population outlook (Erie County) Hauer SSP2

• Today (2025): 933,037 people
• By 2030: 935,181 · +0.2%
• By 2040: 928,531 · -0.5%
• By 2050: 905,725 · -2.9%
• By 2075: 834,037 · -10.6%
• By 2100: 708,033 · -24.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 13% Two or more races 6% Black 5% Asian 2%
• Hispanic origin (detail): Puerto Rican 10% Cuban 1%
• Common ancestry: Romanian 16% Lithuanian 1% Subsaharan African 1%
• Foreign-born: 4% · Canada, Jamaica, China
• Languages at home: 90% English-only · Spanish 4% Chinese 1%

Political lean MEDSL · Erie

• 2024 margin: Lean D (+9.7) · D 54.8% · R 45.2%
• 2008→2024 swing: -7.9pp toward R · 2008: 17.5pp · 2024: 9.7pp
• All cycles: 2024: D+9.7 2020: D+14.7 2016: D+4.8 2012: D+15.6 2008: D+17.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -146.29%
• Current HPI: 402.5053
• Rent YoY: ▲ 7.62%
• Metro: Buffalo-Cheektowaga, NY
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

+299.9% since first listed

9 events — show timeline

• 2026-06-04 Listed $279,900 WNYREIS
• 2023-06-27 Rental Removed — RENT.
• 2022-09-28 Sold (Public Records) $180,000 Public Records
• 2022-09-27 Sold (MLS) $180,000 WNYREIS
• 2022-08-12 Pending — WNYREIS
• 2022-08-06 Pending — WNYREIS
• 2022-07-20 Listed $195,000 WNYREIS
• 2014-12-01 Sold (Public Records) $74,000 Public Records
• 1993-12-07 Sold (Public Records) $70,000 Public Records

Property tax history

-8.8%/yr

Latest (2025): $165 · -78.5% YoY. Source: county tax records.